San Marcos Industrial Building For
For Sale
Contact for pricing
1265 Stone Dr, San Marcos, CA 92078
Recently renovated industrial building with drive-through access in San Marcos.
Property Size7,860 SF
Price / SF$330
Days on Market196
Property Features for 1265 Stone Dr
General Information
Standard status
Active
Size
7,860 SF
Property subtype
Industrial
Zoning
Light Industrial
Investment Type
Owner/User
Building Details
Year Built
1984
Year Renovated
2023
Buildings
1
Stories
1
Units
1
Listing Agency:
Lee & Associates San Diego - Carlsbad
(760) 685-1813
Listed By:
Keith Dulmage · License #02155780
Source:
Crexi
Added: Jan 30
Changed: Aug 8
Last Checked: Jul 23 at 1:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates San Diego - Carlsbad
Investment Insights
Based on property information with market context.
This is a single-tenant industrial building located in San Marcos. The property has been recently renovated and features polished concrete floors throughout. The existing office improvements can be modified to create a layout of approximately 20% office space and 80% warehouse space. Two grade-level roll-up doors provide drive-through access within the warehouse. The building includes a street-side monument sign. The property contains 7,860 square feet.
Key Highlights
- Recently renovated industrial building.
- Located in the heart of San Marcos.
- Flexible office/warehouse configuration (easily adjusted to ±20% office/±80% warehouse).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$109,194
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,183,880
$2.2M
Cap Rate 7%
$1,559,914
$1.6M
Cap Rate 9%
$1,213,267
$1.2M
Market Conditions
NOI Build-Up for 7,860 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$141.5K $18.00/SF
− Vacancy
−$13.0K −$1.66/SF
EGI
$128.5K $16.34/SF
− OpEx
−$19.3K −$2.45/SF
NOI
$109.2K $13.89/SF
Area
San Diego County, CA
Vacancy
9.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,183,880
Cap Rate 7%
$1,559,914
Cap Rate 9%
$1,213,267
Alternative Uses
Best Use
Warehouse
$1.56M
$1.36M – $1.82M
NOI $109,194 @ 7.0% cap · market cap 4.21%
Second Best
Industrial
$1.28M
$1.12M – $1.50M
NOI $89,925 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $252,083 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,749
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92078, CA
52,347
Population
19,249
Households
2.7
Avg Household Size
39
Median Age
48%
College-Educated
92%
High-School Grad
16.7 sq mi
ZIP Area
3,135
Density / Sq Mi
$114,905
Median Household Income
$55,060
Median Earnings
$2,468
Median Rent
$874,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Recently renovated industrial building with drive-through access in San Marcos.
Where is this warehouse located?
The property is located at 1265 Stone Dr San Marcos, CA.
What is the asking price?
The asking price for this property is $2,593,800.
What are key features of this property?
This property features: Recently renovated industrial building.; Located in the heart of San Marcos.; Flexible office/warehouse configuration (easily adjusted to ±20% office/±80% warehouse).
